Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of JMT Network Services PCL's Sloan Ratio %
For the Credit Services subindustry, JMT Network Services PCL's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
JMT Network Services PCL's Sloan Ratio % Distribution in the Credit Services Industry
For the Credit Services industry and Financial Services sector, JMT Network Services PCL's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where JMT Network Services PCL's Sloan Ratio % falls into.
JMT Network Services PCL Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
JMT Network Services PCL's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
JMT Network Services PCL's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was 551.003 (Jun. 2023 ) + 466.281 (Sep. 2023 ) + 540.307 (Dec. 2023 ) + 418.262 (Mar. 2024 ) = ฿1,976 Mil.
JMT Network Services PCL's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2024 was -4189.955 (Jun. 2023 ) + 1631.727 (Sep. 2023 ) + -1023.914 (Dec. 2023 ) + 905.238 (Mar. 2024 ) = ฿-2,677 Mil.
JMT Network Services PCL's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2024 was -1319.307 (Jun. 2023 ) + -172.103 (Sep. 2023 ) + -58.258 (Dec. 2023 ) + -57.14 (Mar. 2024 ) = ฿-1,607 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
JMT Network Services PCL (BKK:JMT) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2024, JMT Network Services PCL has a Sloan Ratio of 15.41%, indicating there is a warning stage of accrual build up.
JMT Network Services PCL Sloan Ratio % Related Terms
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JMT Network Services PCL (BKK:JMT) Business Description
JMT Network Services PCL is engaged in debt collection services, purchase of non-performing accounts receivable from financial institutions for debts management and collection, providing finance leasing services, insurance broker services, and consumer lending. The company has three reportable segments which are Debt tracking and collection service, Non-performing accounts receivable management business, and Insurance business. Its Non-performing accounts segment generates maximum revenue for the company. Geographically it operates in Thailand and Cambodia.
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